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2003 SESSION

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SB 980 Powers of fiduciaries in will or trust; extending scope.

Introduced by: William C. Mims | all patrons    ...    notes | add to my profiles | history

SUMMARY AS PASSED:

Incorporating powers of fiduciary into will or trust instrument; definition of estate. Defines "estate" to include all interests in the property of an individual that passes by will or intestacy. The bill's purpose is to ensure that the fiduciary has access to property other than that to which he has title as fiduciary, for the purposes of paying any debts of the estate. This bill is identical to HB 1977.

SUMMARY AS PASSED SENATE:

Incorporating powers of fiduciary into will or trust instrument; definition of estate. Defines "estate" to include all interests in the property of an individual that passes by will or intestacy. The bill's purpose is to ensure that the fiduciary has access to property other than that to which he has title as fiduciary, for the purposes of paying any debts of the estate. This bill is identical to HB 1977.

SUMMARY AS INTRODUCED:

Powers of fiduciaries in will or trust; extending scope. Provides that the fiduciary's power over decedent's investments and property extends to that of which the decedent died seized and possessed, or which may come into the control of the executor.